Ambuja Cements Q4 results: Net profit rises 6% YoY to ₹532 crore; announces dividend of ₹2

Revenue from operations in Q4FY24 rose 12.3% to ₹4,780.32 crore from ₹4,256.31 crore, year-on-year (YoY).

At the operational level, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) during the quarter increased 1.2% to ₹797.8 crore from ₹788 crore, while EBITDA margin narrowed by 180 basis points (bps) to 16.7% from 18.5%, YoY.

Also Read: ACC Q4 results: Net profit jumps 216% to ₹748.54 crore, revenue up 12.6% YoY; declares ₹7.5 dividend

On a consolidated basis, Ambuja Cements posted a net profit growth of 64% at ₹1,055.30 crore from ₹644.94 crore last year. Consolidated revenue from operations in Q4FY24 increased 12% YoY to ₹8,893.99 crore.

“We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel,” said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements.

During the quarter, the Adani Group firm recorded sales volume (Clinker and Cement) growth of 17.3% at 16.6 Mn T. Kiln fuel cost dropped by 17% to ₹1.84/’000 kCal.

“The cement industry’s outlook remains positive, driven by pre-election spending, ongoing government emphasis on infrastructure development, and sustained real estate activity. Adani Cement will have advantage of accelerated growth, cost leadership, synergy with group businesses which will help to sustain market leadership,” Ambuja Cements said.

The company successfully completed three acquisitions (Sanghi, Asian Cements & GU in Tuticorin) and its cement capacity increased by 11.4 MTPA taking total capacity to 78.9 MTPA.

Also Read: UltraTech’s Q4 net profit rises 36% y-o-y on lower fuel costs; beats estimates

Ambuja Cements Dividend

The Board of Directors of Ambuja Cements also recommended a dividend of ₹2 per equity share of face value of ₹2 each fully paid-up for the Financial Year 2023-24, subject to approval of shareholders of the company.

The company has fixed Friday, 14th June 2024 as ‘Record Date’ for the purpose of determining entitlement of the members of the Company to receive the dividend.

On Tuesday, Ambuja Cements shares ended 1.60% lower at ₹619.70 apiece on the BSE.

Read all Q4 results here

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Published: 01 May 2024, 02:53 PM IST